Legal Question in Credit and Debt Law in New York

I was given a promissory loan in 1987 which was supposed to secure my investment in a real estate project. The developer of the project went bankrupt and with that my investment. I stil have the note. Is there any hope for it?

Andrew Falco


Asked on 2/13/11, 9:50 am

1 Answer from Attorneys
Michael Markowitz Michael A. Markowitz, PC

The statute of limitations on a demand note is six years. Assuming the note you are referring to is a demand note, the answer would be no.

Mike.

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Answered on 2/13/11, 1:05 pm


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